Flora's $401M Raise Aims to Decentralize AI Infrastructure
Flora Growth Corp. (NASDAQ: FLGC) has raised $401 million through a private investment in public equity (PIPE) offering, positioning the company to implement a 0G treasury strategy. The transaction, expected to close on or around September 26, 2025, includes $366 million in in-kind digital assets and $35 million in cash commitments. Proceeds will be used to acquire additional $0G tokens, the native cryptocurrency of the 0G ecosystem, which is designed to power decentralized AI infrastructure. The offering is led by DeFi Dev Corp., Hexstone Capital, and Carlsberg SE Asia PTE Ltd, with participation from Dao5, Abstract Ventures, and other institutional investors [1].
The restructured entity, rebranded as ZeroStack, will retain the FLGCFLGC-- ticker symbol. Michael Heinrich, co-founder of 0G, has been appointed Executive Chairman, while Daniel Reis-Faria will serve as CEO. The company emphasized that $0G will act as its primary reserve asset, marking a strategic shift toward AI-driven infrastructure. Investors contributing via $0G tokens will receive pre-funded warrants exercisable upon shareholder approval. The offering is structured under Regulation D, limiting participation to accredited investors [2].
0G, the blockchain platform at the center of this strategy, has demonstrated breakthrough capabilities in decentralized AI. It successfully trained a 107 billion parameter model using distributed clusters over low-throughput internet connections—a 357x improvement over prior research. The platform’s vertically integrated infrastructure combines storage, compute, and training marketplaces, enabling large-scale AI workloads without centralized data centers. This achievement underscores 0G’s potential to redefine AI development by reducing reliance on traditional cloud infrastructure [3].
Flora Growth’s rebranding aligns with its pivot to AI-focused treasury management. The company, which previously operated as a pharmaceutical distributor through its subsidiary Phatebo GmbH, now positions itself as the first decentralized AI treasury firm. The strategy offers institutional investors equity exposure to foundational AI infrastructure, leveraging 0G’s scalable blockchain. CEO Daniel Reis-Faria highlighted the transformative impact of AI on infrastructure, stating that the approach provides “transparent, verifiable, and privacy-first AI development” [4].
The collaboration with DeFi Dev Corp. includes holding a portion of Flora’s treasury in SolanaSOL-- (SOL) tokens, signaling a broader integration with existing blockchain ecosystems. Joseph Onorati, CEO of DeFi Dev Corp., expressed enthusiasm for expanding AI adoption across Solana. The transaction also includes in-kind loans and pre-funded warrants, creating a hybrid capital structure that balances liquidity and long-term growth incentives [5].
Analysts note that the funding round reflects growing institutional interest in AI-driven blockchain projects. The 0G platform’s ability to decentralize AI workloads challenges conventional models, potentially reducing costs and enhancing data privacy. However, risks remain tied to the volatility of $0G’s market price and regulatory uncertainties. The company’s forward-looking statements, including expectations for capital markets transactions, are subject to market conditions and regulatory approval .
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